Nvidia continues to maintain a distance from the crypto industry, pausing a high-profile partnership announcement and reaffirming its stance against including crypto-related projects in its AI accelerator programs.
Nvidia has once again paused a high-profile partnership announcement, this time with the Layer 2 network Arbitrum, highlighting the company’s continued exclusion of crypto-related projects from its flagship AI accelerator programs.
The Struggle for Inclusion
Despite ongoing outreach from the cryptocurrency sector, Nvidia maintains a clear stance against including crypto-related projects in its AI accelerator programs. This stance is not new and reflects a longer history of distance from the company’s leadership. Co-founder and CEO Jensen Huang has previously described the fallout from the ICO boom as giving Nvidia a ‘crypto hangover,’ citing unsold GPU inventory and a $5.5 million fine over reported crypto-related revenue impact.
Jensen Huang is a Taiwanese-American business magnate and technologist.
He co-founded NVIDIA in 1993 with 'Curtis Priem, Chris Malachowsky, and Abu Zar Hossain'.
Huang served as the company's first employee and has been its CEO since its inception.
Under his leadership, NVIDIA has become a leading technology company, specializing in graphics processing units (GPUs) and high-performance computing hardware.
A Skeptical View
Nvidia CTO Michael Kagan has also expressed skepticism about the value of cryptocurrency, stating in a 2023 interview that ‘Crypto doesn’t bring anything useful for society.’ This view contrasts with Nvidia’s embrace of artificial intelligence and occasional tolerance of blockchain. While the company has acknowledged the potential benefits of AI, its stance on cryptocurrency remains unchanged.
A Glimpse of Tolerance
However, some in the industry continue to interpret moments like these as cracks in the door, a potential softening that might eventually lead to inclusion. The recent partnership announcement between Arbitrum and Nvidia was paused due to unspecified reasons, leaving many wondering if the company’s stance on cryptocurrency is set to change.
A Firm Stance
For now, Nvidia’s message seems clear: crypto’s not invited. Despite ongoing efforts to align with the booming AI sector, Nvidia’s programs remain explicitly exclusionary of crypto-related projects. As the company continues to focus on artificial intelligence and related technologies, it appears that cryptocurrency will remain outside its flagship initiatives.
A Look Back
In 2018, Nvidia’s co-founder and CEO Jensen Huang described the fallout from the ICO boom as giving the company a ‘crypto hangover.’ This incident highlights the challenges faced by Nvidia in navigating the cryptocurrency market. While the company has since acknowledged the potential benefits of AI, its stance on cryptocurrency remains unchanged.
The Future Ahead
As the cryptocurrency sector continues to evolve and mature, it is likely that we will see increased pressure on companies like Nvidia to reconsider their stances on related technologies. However, for now, it appears that crypto’s place at the table remains firmly outside the scope of Nvidia’s flagship AI accelerator programs.
- coindesk.com | Nvidia Continues to Keep Crypto at Arm’s Length
